I can only agree this form of imprisonment for murderers, rapists, ones who physically and mentally hurt people with permanent losses.
Ones can argue that he mentally & physically hurt others, but we need evidence. We should have a better system to force these individuals to pay back or make up the losses. Of course, he will never be able to pay back all the losses, but at least that's a better punishment and I'm almost certain every prisoner will agree to do. They will absolutely trade all of their finances for x years in exchange for freedom.